US stocks close mixed with producer inflation figures

By Ovunc Kutlu

ISTANBUL (AA) - Major stock exchanges in the US closed mixed on Thursday after producer inflation in March came below market expectations, but accelerated on an annual basis.

The Dow Jones was down just 2.43 points, or 0.01%, to finish flat at 38,459.

The S&P 500, on the other hand, rose 38.42 points, or 0.74%, to end the session at 5,199.

The Nasdaq, meanwhile, jumped 271.84 points, or 1.68%, to end the day at 16,442.

US producer inflation in March rose 2.1% annually, slightly below the market expectation of 2.2%. The figure, however, was recorded as the largest advance since rising 2.3% in April 2023, and it paced up from February when it showed a year-on-year increase of 1.6%.

The VIX volatility index, also known as the fear index, dove 5.6% to 14.91. The 10-year US Treasury yield rose 0.6% to 4.587%.

The US dollar index increased 0.03% to 105.28, while the euro declined 0.15% to $1.0726 against the greenback.

Precious metals showed strong gains, with gold adding 1.77% to $2,377 per ounce and silver increasing 1.9% to $28.46.

Oil prices were down around 0.5% with global benchmark Brent crude at $90.21 per barrel and US benchmark West Texas intermediate at $85.58.